Huh? Is the much-disliked $SUI going to break a new high again?
In mid-October, rumors of internal sell-offs of $SUI emerged in the market, with related wallets cumulatively selling approximately $400 million worth of tokens. This large-scale sell-off brought some selling pressure to the market, causing a short-term decline. Additionally, a large amount of SUI tokens will be unlocked at the end of October, which may create ongoing pressure on prices.
Bitcoin continues to challenge historical highs, unexpectedly SUI is following closely behind. Is the ecological expansion and potential competitiveness of SUI still the focus of everyone's attention?
Currently, chasing contracts in a rising market can easily lead to being caught at the peak; it’s better to wait for a pullback to around $1.70 and stabilize before going long, with a short-term target set around $2.05. Use low leverage with a stop loss at $1.60.
If it fails to break through the historical high of $2.368 and shows signs of a drop, consider scalping and opening short positions, with a long-term target of $1.70 and a stop loss at $2.45.
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